COMPARATIVE STUDY OF ZERO INTEREST RATE THEORY AND PROHIBITION OF USURY IN ISLAM

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BAKHSHI DASTJARDI RASOOL

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Journal: EGHTESAD-E ISLAMI Year:2010 | Volume:10 | Issue:38 Page(s): 61-88

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Information Journal Paper

Title

COMPARATIVE STUDY OF ZERO INTEREST RATE THEORY AND PROHIBITION OF USURY IN ISLAM

Author(s)

BAKHSHI DASTJARDI RASOOL | Issue Writer Certificate

Keywords

ZERO INTEREST RATEQ3

ISLAMIC ECONOMICSQ3

USURYQ3

INTERESTQ3

Abstract

Researches undertaken by capitalistic economists, show that in order to achieve optimal conditions of market economy, INTEREST rate must be zero. On the other hand, in ISLAMIC ECONOMICS USURY is forbidden and its appearance in economic relations is prohibited. Is there any relation between recent economic propositions of INTEREST RATE/fa?page=1&sort=1&ftyp=all&fgrp=all&fyrs=all" target="_blank">ZERO INTEREST RATE and the law of forbiddance of USURY in ISLAMIC ECONOMICS?The current paper, with its analytical-descriptive approach, will look into the following hypothesis: Theories of INTEREST RATE/fa?page=1&sort=1&ftyp=all&fgrp=all&fyrs=all" target="_blank">ZERO INTEREST RATE in Capitalist economic system are different from law of forbiddance of USURY in Islamic economic system and the concept emphasized in the forbiddance of USURY is not extracted from these theories.In order to analyze this supposition, in the beginning the article generally analyzes the historical trend of changes in INTEREST rate theories in Capitalist system up to the time it reached the INTEREST RATE/fa?page=1&sort=1&ftyp=all&fgrp=all&fyrs=all" target="_blank">ZERO INTEREST RATE theory. Subsequently, while relying on the conclusions of previous analysis, it evaluates the relation of these theories with the Islamic viewpoint regarding USURY. The conclusions achieved show that theories of INTEREST RATE/fa?page=1&sort=1&ftyp=all&fgrp=all&fyrs=all" target="_blank">ZERO INTEREST RATE are different from law of forbiddance of USURY, in ISLAMIC ECONOMICS, and the concept of elimination of USURY from loan, is not extracted from those theories.

Cites

CRITICIZING SOME MISUNDERSTANDING ABOUT THE PROHIBITION OF RIBA IN ISLAMIC BANKING

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APA: Copy

BAKHSHI DASTJARDI, RASOOL. (2010). COMPARATIVE STUDY OF ZERO INTEREST RATE THEORY AND PROHIBITION OF USURY IN ISLAM. EGHTESAD-E ISLAMI, 10(38), 61-88. SID. https://sid.ir/paper/99718/en

Vancouver: Copy

BAKHSHI DASTJARDI RASOOL. COMPARATIVE STUDY OF ZERO INTEREST RATE THEORY AND PROHIBITION OF USURY IN ISLAM. EGHTESAD-E ISLAMI[Internet]. 2010;10(38):61-88. Available from: https://sid.ir/paper/99718/en

IEEE: Copy

RASOOL BAKHSHI DASTJARDI, “COMPARATIVE STUDY OF ZERO INTEREST RATE THEORY AND PROHIBITION OF USURY IN ISLAM,” EGHTESAD-E ISLAMI, vol. 10, no. 38, pp. 61–88, 2010, [Online]. Available: https://sid.ir/paper/99718/en

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